Trading Update and Notice of Results
25 July 2018
STM Group Plc (AIM: STM), the cross border financial services provider, announces the following trading update:
The first half year of 2018 has progressed in line with management's expectations, underpinned by the Group's underlying recurring revenue stream and a steady flow of new business applications, particularly with regards to the International SIPP. We look forward to the second half of 2018 with confidence in our robust business model and remain on track to achieve current management expectations for the full year.
The integration of the Harbour acquisition, approval for which was received in February 2018, has progressed according to plan with the full integration into STM Malta expected to be completed by end of August. Harbour will be moderately earnings enhancing for the full year. The Board continues to look for earnings enhancing acquisitions of pension administration businesses in both the international pensions market, as well as that of the UK domestic market.
We have built on our governance framework, and as part of this plan the Company has appointed a Group Internal Auditor. In addition, the Board has taken the decision to recruit a Chief Operating Officer to join the existing executives. This additional resource will allow the Chief Executive Officer to focus more on Group strategy, adding further stakeholder value above and beyond organic growth.
In addition, the recruitment of a new Chairman and an additional Non-Executive Director is in the final stages, and will result in further complementary skills being brought to the boardroom. We expect to update the market on this in the near future.
Notice of Results:
STM will announce its Interim results for the six months to 30 June 2018 on Tuesday 11 September 2018.
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
For further information, please contact:
|STM Group Plc|
|Alan Kentish, Chief Executive Officer
|Via Walbrook PR
|Therese Neish, Chief Financial Officer
|Matt Goode / Emily Watts - Corporate Finance||Tel: +44 (0) 20 7220 0500|
|Tim Redfern / Richard Chambers - ECM|
|Tom Cooper / Paul Vann||Tel: +44 (0) 20 7933 8780
Mob: +44 (0) 797 122 1972
Notes to editors:
STM is a multi jurisdictional financial services group which is listed on the AIM Market of the London Stock Exchange. The Group specialises in the delivery of a wide range of financial service products to professional intermediaries and the administration of assets for international clients in relation to retirement, estate and succession planning and wealth structuring.
STM has operations in the UK, Malta, Gibraltar, Jersey, and Spain. The Group is looking to expand through the development of additional products and services that its ever more sophisticated clients demand. STM has developed a specialist international pensions division which specialises in SIPPs, Qualifying Recognised Overseas Pension Schemes (QROPS), and Qualifying Non UK Pension Schemes (QNUPS). STM has a Gibraltar Life Insurance Company, STM Life plc, which provides life insurance bonds - wrappers in which a variety of investments, including investment funds, can be held.
Further information on STM Group can be found at www.stmgroupplc.com